"I have had the privilege of working with HMI for twenty plus years and have always found their representatives to be professional and knowledgeable in all aspects of acute hospital and professional service charge master management. Additionally ongoing coding related reviews and billing reviews and associated report backs are timely and positively impact appropriate revenue capture - billing - and compliance." "I recommend HMI to be considered when choosing a partner to assist with the...
Greg Yost, PFS Director Princeton Community Hospital, Princeton WV
We have utilized HMI Corp. since 2002 for consultation services related to chargemaster review and updates and have always found their services to be professional of nature and valuable to our organization.
David Alley, CFO Athens Regional Medical Center, Athens TN
We recently transitioned to HMI from another Physician Documentation & Coding Compliance Review vendor, and the entire experience has been positive. HMI has been extremely accommodating throughout the process and has demonstrated a willingness to adapt to our workflows, leading to a seamless transition. We’ve received positive feedback from our providers about their experiences with HMI, and the Coding Hotline has been an invaluable resource. For anyone looking for a new consulting partner,...
Dawn Chrismer, RHIT, CHC, CCS-P Director of Business Services/Compliance Officer Heritage Medical Associates, Nashville, TN
HMI has been a very reliable resource for Princeton Community Hospital for many, many years. I have had the opportunity to work with many staff members and have found all to be reliable and courteous in every aspect. The staff is very flexible and provides Princeton Community with the support and coding stability needed. Thank you for the sometime short notices for coding coverage when unexpected situations arise with our staff. We thank you for your coding expertise as well as your...
Denise Moore, CCS Coding Manager Princeton Community Hospital
I’ve worked with HMI employing them to conduct audits of physician documentation and coding. They have consistently produced quality work in a very timely fashion with reports that were well written and easy to understand. Communication has always been prompt and effective. I have such confidence in their work that, over the years, I brought them from my prior location to my current location. I would recommend HMI to anyone in need of accurate and timely coding or auditing.
Robert C. Kay, RRT, MBA, MJ, CHC, CPC-A Chief Compliance Officer St. Christopher\'s Hospital for Children
“I have had the privilege of working with HMI over the past 10+ years with two different health systems. I have used HMI for hospital CDM and compliance reviews as well as physician coding reviews and education. I always receive top-notch service from the HMI team and I appreciate working with a partner that is always honest and responsive to my questions and needs. I have worked with Mary Quimby and Vickie Faler and both have proven to be very knowledgeable, accessible, and...
Rodney Adams, MMCH, Associate Administrator of Finance Williamson Medical Center
HMI has been a great partner with MedStar Washington Hospital Center now for many years. We can always count on them to provide us with support on small to very large projects. HMI delivers consistent and honest results and additionally provides very thoughtful & targeted education to our physicians.
Purvi Jani AVP Reporting and Revenue Cycle MedStar Washington Hospital Center
Having worked in healthcare revenue cycle for more than three decades, I have partnered with many vendors. My vendor of choice for CDM Review, E/M Coding Compliance and Physician Education is without a doubt HMI, LLC. Mary Quimby and Vickie Faler are not only subject matter experts, they are true partners providing that extra level of service that sets them far above others in the industry. I have worked with them for 15+ years in 5 different acute facilities, and multi-specialty physician...
MaryAnn Hastings, CPMA, Director Revenue Cycle Operations, Galen Medical Group
We have been working with HMI since 2010 and have expanded the use of their services to include CDM and ED Coding. The HMI coding staff is extremely knowledgeable and has become an integral part of our coding team. Our consultant Beth never shies away from any CDM project that comes her way. We appreciate the professionalism and teamwork we have with HMI.
Janet Willis, Director of Revenue Management, Monadnock Community Hospital
We have utilized HMI’s for chargemaster compliance and billing reviews for nearly 10-years. We have always found that their staff to be knowledgeable, resourceful and professional in all services provided to our organization.
Jessica Mayfield, Manager Revenue Management University of Missouri Health Care
What’s Involved in a Revenue Cycle Assessment? How Do Revenue Cycle Experts Maximize Medical Profits?
A good revenue cycle assessment will help your organization become more profitable.
But what’s involved in a revenue cycle assessment? How can revenue cycle experts maximize medical profits? What actionable steps will revenue cycle assessment experts help you implement? Today, we’re explaining everything you need to know about what’s involved in a revenue cycle assessment.
Areas of Revenue Cycle Assessments
Some organizations perform a revenue cycle assessment on their overall organization, hiring a consulting company to conduct a bottom-to-top assessment.
Other organizations request specialized revenue cycle assessments in one or more areas of the organization.
Typically, revenue cycle assessments focus on the organization’s core areas, including:
• Pre and post-system implementation
• Organizational structure
• Process flow and design
• Vendor performance
• Staff and team performance
• Denials prevention and management
• Functional office metrics
• Key performance indicators
How a Revenue Cycle Assessment Works
During a revenue cycle assessment, our experts analyze key areas of a medical organization to determine areas of improvement. Our experts use their combined decades of industry experience to solve your organization’s revenue issues.
Here’s a more detailed breakdown of how each step of our revenue cycle assessment will work:
Coding and Documentation Reviews: Good revenue management starts with good coding and documentation. Our experts will analyze your organization’s documentation and coding to ensure billed services are supported while adhering to payer mandates and guidelines.
Self-Pay Strategy: Our experts will analyze your organization’s performance for self-pay and self-pay after insurance collections. We’ll assess reporting, point of service collections, liability estimators, patient contact strategies, and third party vendor management, among other areas.
Denials Management: By analyzing your organization’s denials management, we can reduce write-offs and revenue leakage. Our team will help identify clinical and operational denials, outline identify process and workflow improvement opportunities.
Case Management & Utilization: By assessing your case management and utilization, our experts can identify process gaps that could lead to fatal level-of-care denials.
Charge Capture: Many organizations are surprised by the problems that charge capture analysis can reveal. Good revenue starts with a good chargemaster.
Patient Access: How does your organization perform for insurance eligibility, registration accuracy, centralized scheduling, prior authorization, and point of service collections? Our team will assess your patient access to identify areas of improvement.
Coding & Hierarchical Condition Categories: HMI LLC employs experienced coding consultants who assess your organization’s reimbursement risk related to coding. Every day, medical organizations across the country lose reimbursement because of coding and HCC issues.
Accounts Receivable: We can analyze your accounts receivable, then provide support and training to maximize revenue.
Job Shadowing: Revenue cycle assessment can involve employee shadowing and management training, ensuring your organization is capturing revenue from the lowest levels of the organization to the top.
Negotiations with Payers: We can negotiate with payers for increased reimbursement carve outs, enhancing organization revenue.
Dedicated, Long-Term Revenue Cycle Team: After the revenue cycle assessment is complete, we can form a revenue cycle team dedicated to tracking the revenue of your organization long-term.
Outcome of a Revenue Cycle Assessment
The goal of a revenue cycle assessment is to give the client actionable advice they can implement today to boost revenue. Some of the concrete deliverables created by a revenue cycle assessment include:
• A strategic roadmap for improving the client’s overall operational performance
• Identification and breakdown of current revenue cycle issues
• Identification and quantification of opportunities for improvement
• Detailed recommendations for improving key revenue cycle function areas
• Comparison of an organization’s metrics in relation to overall industry benchmarks
Schedule a Revenue Cycle Assessment with HMI Today
HMI LLC specializes in performing revenue cycle consulting for medical organizations across the United States.
Our team has a unique blend of industry, consulting, and system experience, allowing us to analyze your operations and identify ways to improve your performance.
A healthy revenue cycle is critical for organizational success. Schedule a revenue cycle assessment with HMI LLC today.